Investors Buy Large Volume of Put Options on Yext (NYSE:YEXT)

Yext Inc (NYSE:YEXT) saw unusually large options trading on Tuesday. Stock investors acquired 2,891 put options on the stock. This is an increase of 2,528% compared to the typical daily volume of 110 put options.

NYSE YEXT traded down $0.05 on Friday, reaching $20.45. 709,052 shares of the stock traded hands, compared to its average volume of 962,799. Yext has a 12 month low of $12.90 and a 12 month high of $27.19. The firm has a market cap of $2.24 billion, a PE ratio of -26.91 and a beta of 1.13. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.15.

Yext (NYSE:YEXT) last announced its quarterly earnings results on Thursday, May 30th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.02. Yext had a negative return on equity of 68.88% and a negative net margin of 32.59%. The business had revenue of $68.71 million for the quarter, compared to the consensus estimate of $66.74 million. During the same period last year, the business posted ($0.10) EPS. The business’s revenue was up 34.8% compared to the same quarter last year. On average, research analysts expect that Yext will post -0.85 earnings per share for the current year.

In other Yext news, President Brian Distelburger sold 11,316 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $22.17, for a total value of $250,875.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Howard Lerman sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $22.87, for a total value of $686,100.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,126,999 shares of company stock worth $23,482,337. 17.00% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Private Advisors LLC grew its stake in Yext by 58.7% during the 1st quarter. Private Advisors LLC now owns 77,447 shares of the company’s stock worth $1,693,000 after buying an additional 28,656 shares during the last quarter. Marshall Wace North America L.P. grew its stake in Yext by 696.2% during the 1st quarter. Marshall Wace North America L.P. now owns 160,106 shares of the company’s stock valued at $3,500,000 after purchasing an additional 139,996 shares during the last quarter. Marshall Wace LLP purchased a new stake in Yext during the 1st quarter valued at about $7,936,000. Clearbridge Investments LLC grew its stake in Yext by 25.9% during the 1st quarter. Clearbridge Investments LLC now owns 3,204,760 shares of the company’s stock valued at $70,056,000 after purchasing an additional 658,477 shares during the last quarter. Finally, Diversified Trust Co grew its stake in Yext by 14.3% during the 1st quarter. Diversified Trust Co now owns 14,230 shares of the company’s stock valued at $311,000 after purchasing an additional 1,780 shares during the last quarter. Hedge funds and other institutional investors own 57.88% of the company’s stock.

YEXT has been the subject of several research analyst reports. SunTrust Banks restated a “buy” rating and set a $30.00 price target on shares of Yext in a report on Monday, March 18th. Morgan Stanley lifted their target price on Yext from $15.00 to $16.00 and gave the stock an “underweight” rating in a report on Thursday, March 7th. Zacks Investment Research cut Yext from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a report on Saturday, April 27th. Finally, ValuEngine cut Yext from a “strong-buy” rating to a “buy” rating in a report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Yext has an average rating of “Hold” and an average target price of $23.86.

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About Yext

Yext, Inc provides a knowledge engine platform that lets businesses manage their digital knowledge in the cloud and synchronize it to its knowledge network in North America and internationally. The company offers Yext Knowledge Engine, a cloud-based global platform that enables businesses to control and manage their digital knowledge and make it available through its knowledge Network of approximately 150 third-party maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks.

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